Monday, 3 March 2014

Vintage Watches, a guest blog from The Cheshire Watch Company

How Historical Events can Affect the Value of a Watch

When purchasing a high quality timepiece, you get more
than just reliability and style; many watches from renowned brands will
actually gain value as time ticks on. A variety of factors determine whether a
watch will appreciate or depreciate in sale value. Things such as brand name
and quality are unsurprisingly amongst these key factors. Historical
significance can also play a huge part; the added value can be huge.

Some of the most expensive watches ever sold at auction
have come with a story attached. Here are some of things in a timepiece's
history which can set it apart from others:

Celebrity
connection

A watch worn by a celebrity can be highly coveted by
dealers and fans alike. The popularity of the star in question and whether they
are alive or dead can have a huge impact. Elvis’s Omega watch was sold for
£320,000, a huge increase on its retail price. Watches worn in films are also
massively popular. The watch worn by Steve McQueen on screen in the film Le
Mans was sold at auction for more than half a million Pounds.

Event
connection

Watches which were worn during a certain period are often
worth more money when sold. A good example of this are watches worn by soldiers
during the First and Second World War. In practice, stories such as these have
been seen to double a watch’s value.

Company
prestige

The history of the company the watch was made by can be as
important as the history of the watch itself. Patek Philippe watches
consistently sell for some of the highest prices. This is because the company
has been producing timepieces since 1868. They have built up a reputation for
quality. Small production numbers do not hurt their values either.

Limited or
first editions

Many manufacturers produce their watches in very small
numbers. This scarcity often pushes prices up as time passes. Over time, some
watches will break, some will be lost or forgotten about. This increases the
value of those that remain in circulation. The first examples of features such
as minute repeaters or chronographs will also add value.

Wear and
tear

Despite what you may hear, wear and tear can actually add
to a watch’s value. It can add a unique aspect to the watch and increase its
vintage feel. The replacement of leather straps will also not hurt the value as
they are not expected to last a long time. Even damaged or broken watches can
command a high price if their historical significance is high enough.

Would you pay more for a timepiece with history? Have you
come across any watches with an interesting past yourself? Leave a comment
below and let us know; we would love to hear from you.